You have a marine insurance policy to cover damage to your boat or accidents, injuries and other losses on your vehicle. When your boat is damaged in a collision or inclement weather – or someone on board is injured or died – you probably expect your insurance company to do it right by you and your family. Instead, the company either denied your claim or underpaid it, leaving you wondering if it acted in bad faith and whether you have reasons to file a lawsuit. looks familiar? We explain what you should know about Texas boat insurance coverage, bad faith marine insurance cases, and how Voss Law Firm, PC helps clients fight for fair compensation.
Understanding your marine insurance coverage
You have marine insurance, but do you know what type you have or what your policy covers? Here’s a look at the types of boat insurance coverage, common reasons for filing a claim, and what these policies typically exclude.
- Hal. The hull insurance covers any bodily loss or damage to the boat.
- Shipping. The bill of lading covers physical loss or damage to the goods or merchandise. This type of policy may cover single or multiple shipments over a specified period of time.
- Protection and Indemnity (P&I). The P&I policy covers the boat owner’s liability for bodily injury, death or damage to building structures resulting from owning the vessel.
Marine insurance claims often include damage from extreme weather events, fire, explosion, theft, collision with other boats, water damage to a ship’s internal components, or injury or death to a person on board. Although marine insurance often covers such damages, there is a lot that these policies can rule out.
Common boat insurance policy exclusions
- Regular leaks
- normal wear
- Infestation of animals or insects
- Damage caused by marine life
- Inappropriate storage or transportation in the off-season
- Owner or operator negligence or willful misconduct
- Damage caused by a driver not mentioned in the policy
- Ship modifications
- Accessories, such as life jackets, anchors or GPS
Read your document to make sure you understand what it does and does not cover. Do you have questions about your coverage? Ask your insurance agent for clarification.
Texas boat insurance bad faith cases
Boat owners pay for insurance coverage to compensate for damages in the event of an accident or injury on their ship. Unfortunately, most insurance companies don’t look out for your best interests because settling claims quickly — and paying as little as possible — is better for their bottom line.
Examples of bad faith insurance practices
- Failure to investigate a claim
- Refusal to cover without just cause
- Failure to communicate vital information to the plaintiff
- Not responding to a claim immediately
- Submit an unreasonably low settlement amount
- Failure to provide a reasonable explanation for a denied claim
- No time-sensitive deadlines
If you believe your insurance company is acting in bad faith, consulting an attorney to explore your legal rights and options is absolutely essential. A knowledgeable and experienced attorney can conduct a thorough investigation to determine whether your insurance company acted in bad faith, assist you in filing a lawsuit, and protect your rights and interests throughout the litigation process.
Discuss your case with an attorney who specializes in insurance claims in Texas
Has your boat insurance company denied or unfairly understated your claim? Let skilled insurance claims attorneys at The Voss Law Firm, PC review the case. We have helped countless policyholders understand their rights and fight bad faith insurance practices. Ready to see what we can do for you? Complete the online contact form or call our office at 888-614-7730 To schedule a free consultation.
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